BetMGM To Launch Its Online Casino For New Yorkers
New York is one of the many states where the BetMGM Sportsbook hasn’t taken any bet yet. However, one of the company heads is all set with the planning and discussion to make their online casino presence over the state soon.
Bill Hornbuckle, CEO and president of MGM Resorts International, stated that ‘We take power over the iGaming sector.’ At the Q3 MGM earnings call, he spoke about New York’s future of BetMGM, which is the joint venture between Entain and MGM for online casinos and sports betting.
Bill described MGM as a type of omnichannel brand operator. As everyone is thrilled about the expected launch for online sports betting before the Super Bowl in the state, Bill noted that online casinos are the strength of BetMGM’s US online gambling. With respect to iGaming, BetMGM holds the first position in the US with 32% of the total market share, he exclaimed.
“All of the additional elements are expected to be in place and in time for our omnichannel brand strategy needed for the possible launch of BetMGM casino in New York,” he added.
BetMGM Sportsbook To Arrive In New York Soon
The retail casino presence of MGM in the state comes from the Empire City Casino in Yonkers. ‘BetMGM is all set to launch its online casino products on the day the market opens, and New York will be our largest market for launch till date, including M Life database,’ says Hornbuckle.
M Life rewards is a type of loyalty program by BetMGM, which ensures treats or rewards to members in return for their casino visits and app play. It also comprises client data that enhance product and brand marketing.
BetMGM online casino products are already available in some US states, such as:
- New Jersey
- West Virginia
- Michigan
- Pennsylvania
BetMGM is one of the US-based market leaders
The US sports betting and gaming market share of BetMGM was about 23% during Q3 2021. At that time, BetMGM sportsbook launched its products in:
- South Dakota
- Arizona
- Wyoming
BetMGM has already made its presence over 16 markets, and it’s all set to make it 20 locations by Q1 2022, says Hornbuckle. ‘$800 million, this is the full-year net revenue that we expect to exceed in 2021,’ he added.
“We’ll be present on Day 1, which is also crucial and critical,” says Hornbuckle about New York. “So I hope we’ll kick-off to an amazing start.”
He also said that BetMGM is all focused and determined on employing marketing expenses that are ‘ROI positive.’
BetMGM will mostly be paying a tax rate of about 50% to New York, he estimated. “I think that’s what we all are scrutinizing,” he said.
